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eCommerce Software Buyer's Guide
Table of Contents
- » What is the meaning of eCommerce?
- » What is eCommerce Software?
- » How does eCommerce Software work?
- » Is it worth investing money in eCommerce Software?
- » What are the types of eCommerce software?
- » Features and Guides on eCommerce Software
- » What are the Benefits of eCommerce Software?
- » What are the key buying factors to be considered before choosing the eCommerce Software?
- » How to Choose Good eCommerce Software?
- » Questions to ask a vendor when buying eCommerce Software
- » How much does an eCommerce Software Cost?
- » eCommerce Statistics
- » Conclusion
The eCommerce industry is at its peak now with sales expected to reach $6.7 trillion by the year 2020. As many people prefer to shop products at a discount price online, the industry is reaping the benefit out of it. However, running an online store requires streamlining a number of intricate components and processes such as CRM, CMS, emails, payment gateways, etc. Apart from these, one also needs to look for accounts, social media management, and ERP solutions to manage inventory better. Needless to say, managing all these tasks solo or with manpower has equal chances of human errors. In this regard, an eCommerce software can be your ideal bet for sure. Let’s know how exactly.
» What is the meaning of eCommerce?
eCommerce meaning points to the act of buying or selling goods or services over the internet. This process involves the money and information transfer essential to complete the execution of such transactions. It is also widely known as the internet or electronic commerce.
» What is eCommerce Software?
eCommerce Software is an online tool that can handle all processes related to online shopping with ease. For instance, an online store software can manage inventories, facilitate order placement, carry out secure payment through secured third-party applications, manage accounts, among many others. Starting from product selection to successful checkout, it can auto manage the entire process quite efficiently and conveniently. The software can organize and catalog your items as per their size, and quantity. Not just that, it can auto calculate the tax and shipping charges as per the customer location and can send confirmation emails to them on successful business transactions. There can be both b2c and b2b eCommerce software – you have to select as per your need.
» How does eCommerce Software work?
Online shopping involves a series of steps and processes, and the best eCommerce software streamlines all those without any hassle. Firstly, it displays products and categories when someone visits your website. Secondly, it enables customers to create an account for shopping and stores all the necessary information there. Thirdly, it provides customers all the required information such as the price of the product, delivery date, shipping charges, and facilitates customers to go through a secured payment process during checkout. Finally, it helps the money get transferred to your account, confirms the order and sends a confirmation email to the customer against the same. By integrating to third-party software applications, it also offers order tracking, and live chat support as well.
» Is it worth investing money in eCommerce Software?
An eCommerce website software can not only help you organize your online store but also helps it easily detectable by improving its search engine rankings. With robust website management and the guarantee of 100% uptime, the shopping cart software enables you to run ahead of your competitors. The all-in-one integrated platform performs multiple tasks under a single time frame ensuring zero mistakes. Looking at the above perspective, it is an excellent choice to invest money in the best shopping cart software.
» What are the types of eCommerce software?
In today’s technology-driven world, eCommerce store owners have started to develop stylish stores to make the best of their online business. To launch your shop online, you need to select the premium eCommerce software that has all the tools you need to set up and run your business online.
With plenty of eCommerce software available on the market, choosing the one that fits your business requirement and budget can be overwhelming. The options are countless. Each software has plenty of advanced features and extensions that claim to make your business setup process a cakewalk. If you are looking for the best eCommerce software, you need to understand the types of eCommerce platforms. Let’s understand the major types of eCommerce software.
Types of eCommerce Platforms
There are several models for e-commerce business. In fact, eCommerce sales are expected to rise by as much as 78 percent by the end of the year. Given its scale, it is imperative to be aware of the right e-commerce platforms that you can make use of:
› Open Source:
It is a source of authorizing understanding that allows clients to utilize the given platform independently. The given platform offers the opportunity to control everything on the portal as the users are provided with the source. Bug fixes are made easily accessible and even updates can be made on the go.
› Licensed:
It is the platform wherein the users are expected to buy a one-time permit for setting up the online e-commerce store with the preferred host. The permit specifies what you are allowed to do with the respective rights. In case you are looking for some help with an association, you can get access to a licensed product for the best outcomes.
› Hosted:
A hosted e-commerce platform is the type of e-commerce software that serves as a SaaS (Software as a Service). It is responsible for hosting online services. A good hosted platform is known to possess eCommerce-friendly properties like effective inventory management, online payment integration, reliable & powerful server technology access, and so more. Mostly, hosted e-commerce platforms are considered ideal for small-scale & mid-scale business enterprises.
› SaaS (Software as a Service):
SaaS e-commerce software or platform is a complete package of software solutions including hosting, backup, and even technical support features. In this scenario, the online store owner is not expected to download or install any software solution. Moreover, there is also no more requirement of supplying web hosting services because SaaS platforms tend to be hosted by default on the respective servers of the provider. The e-commerce business owners are only expected to require an internet connection and a computer system to manage the respective online stores by logging through the SaaS portal.
› PaaS (Platform as a Service):
PaaS serves to be the unique platform for e-commerce stores that allows them to run applications without the need for maintaining on-premise software & hardware infrastructure. Enterprises are nowadays looking forward to adopting advanced PaaS solutions like SalesForce for imbibing the benefits like simplicity, reliability, scalability, and improved functionality.
Make the most of the right e-commerce platform or software solution for your business!
» Features and Guides on eCommerce Software
The eCommerce software helps companies and businesses by simplifying everyday tasks and activities, such as managing inventory, computing taxes, and fulfilling orders, payment of fees and much more. Previously these small processes used to take long hours as well as careful input from the users, as even a small mistake could result in a drastic loss to the company. However, the various aspects of the eCommerce software have automated the different processes ensuring greater work productivity with reduced wastage of resources. So, let’s check out some of the exciting features of the software.
› Website Builder
This feature helps beginners create their personalized website without the need for churning their head over the internet. Following the easy-to-follow steps, one can easily set up a site and make income from it within hours with the help of the eCommerce software. This is made possible by providing in-built designs, templates, themes, and more which tackles the need for hiring commercial designers to design your website.
› Central Storage
The second feature which serves as an essential factor for setting up websites and efficiently managing them is the central storage. This facility allows users to store, access, and retrieve information whenever needed with just a few clicks. Other information like customer data, product listings, account information, transactions, and more can also be stored in the central storage which helps in securing them from vandalism.
› Search Tools
Search tools come in handy when there is a need to find the perfect product among the heaps of many. These small yet sophisticated tools in the online store software can help in retrieval, listing, categorizing, and updating newer products along with their description.
› Integration with Existing Tools
Nowadays many online store software come with in-built integration with the existing tools to enhance operational management of the eCommerce companies. Hence, additional functions like accounting, email marketing, and payment processing amongst many can be completed without any issues within the single software.
› Marketing Tools
Keeping the need of vendors to have advanced marketing tools within a single online store software in mind, many software developers have provided access to the users to benefit from the tools. Using these tools, one can easily use various marketing strategies to expand the popularity of their brand name, making it reach a much broader population.
› Identifying Latest Trends
The shopping cart software also uses analytics and reporting to provide its users with the latest updates on the market trends in real time. This is done by tracking the customer’s buying behaviour, demographics, and the keywords which are being frequently used. Afterward, the company can then develop tailor-made products according to the latest trends to increase the traffic inflow to the eCommerce store.
» What are the Benefits of eCommerce Software?
The best shopping cart software helps kickstart your business from scratch by providing a variety of tools and facilities as discussed above. From increasing the team’s work productivity to expanding the fame of your products and services offered in the eCommerce store, a single software can perform many wonders. Hence, let’s learn about the plethora of benefits provided by the software to many companies and businesses in order to sustain their eCommerce stores.
› Helps in Building eCommerce websites
Creating websites for eCommerce stores has been made easy, thanks to the shopping cart software which provides readily usable facilities and tools. Hence, one can merely use sophisticated features to drag and drop or change the design templates of the eCommerce landing page, and bingo, your work is done.
› Users can check out products at any time
One of the most significant advantages of the eCommerce website software is that it is always open and users can come searching for products or merely clear their cart from your store at any time they want. This helps in serving global customers with the ease of your hands, as the software automatically does the work for you. Hence, one does not have to sit down for prolonged hours waiting for purchases and sales.
› Reduced Operational Costs
As the eCommerce website software pretty much handles everything on its own without the need for user interference, the wastage of both time, as well as resources, can be easily tackled. This is comparatively a better option than recruiting staff to handle individual jobs in the eCommerce store.
› Expands Product Lists
Eradicating the constraint of physical space for storing all the products as required in physical stores, the eCommerce website software helps individuals to own as many as products they want. Moreover, as the products list increases, the chances of more people buying your products is also enhanced.
› Safe Payment Environment
Securitizing the payment and transaction details including the credit card number, net banking credentials, and other payment platforms, is the most crucial aspect of an eCommerce software. The details are protected from malicious attackers by enabling two-factor authentication or by activating the firewall which prevents unauthorized or forceful intrusion.
› Simple Guidelines
Using b2b eCommerce software is as easy as reading a manual for using a smartphone. A beginner can benefit from the step-by-step guidelines provided on the eCommerce websites. Using them, one can easily search, select, order and check out the product from your eCommerce store within minutes.
» What are the key buying factors to be considered before choosing the eCommerce Software?
The b2b eCommerce software comes with a variety of facilities and tools which differ from one another in many aspects. Hence, although one may think that implementing the software can improve organizational efficiency, it may not always be the case. There are some points which are worth remembering before choosing the software for your eCommerce store. Let’s have a detailed briefing on the subject to gain a deeper understanding of the context.
› Noting down the company’s needs from the software
The reason behind installing b2b eCommerce software for a website is mainly due to the set of needs desired by the company. These needs differ from one to another. Thus, it is always advisable to jot down all the requirements of the eCommerce store beforehand in order to ensure that you land with the perfect software.
› Evaluating the Total Number of Users
Every software has its capacity limit which cannot be extended further. Similarly, the online store software also differs according to the total number of users it accepts, and similarly, the pricing structure also varies. To avoid any future headaches, it is highly recommended to estimate the number of users who will be operating the software.
› Calculating the Budget
The pricing plan of the shopping cart software varies from one to another. Thus, while choosing the software, one must be careful enough to prepare a final budget of the software, which will help cut down the massive list to a few affordable ones.
» How to Choose Good eCommerce Software?
The journey of choosing the best eCommerce software can prove to be very tiring as well as scary for both beginners as well as professionals. This is because of the availability of such a vast number of software and the fact that not everyone has the complete knowledge of the wide-ranged functionalities of the software. Hence, we have hand-listed some of the essential points which can ensure that you get the perfect deal. Check them out now.
› Feasible Usage
The best eCommerce software is always coupled with the most straightforward interface to help users operate the software without any issues. Moreover, it also tackles the need for hiring technical geeks to perform even the simplest of tasks, such as launching a new product or sending invitations to the customers on the latest discounts and offers.
› Real-Time Tracking
Many software nowadays comes with real-time tracking facilities which lets the users monitor and verify the progress of their eCommerce stores along with the click-through rates of each product. This also puts focus on the low performing areas while suggesting better options to maximize the profits.
› Instant Customer Solutions
No software can be considered the best eCommerce software until and unless it houses an experienced, 24/7 customer support excelling in providing immediate solutions. Similarly, some advanced software nowadays is coming with personalized email customer support which lets the users connect with the support team without the need for waiting for prolonged hours to get their problems solved.
› Checking the Comments Section
The comments section usually consists of reviews left by the old customers who have already used the software. This can highlight the quality of services along with the frequency of service call requests which can help in separating the good ones from the bad ones.
» Questions to ask a vendor when buying eCommerce Software
1. Is your e-commerce software easy to use, even for people with non-tech backgrounds?
2. Does the system come in with sales and marketing tools?
3. Will the solution extend SEO support?
4. How does the system streamline different processes?
5. Is the software mobile ready?
6. Will the product work on my existing platforms, or do I need to add specific systems?
7. On what level does the system provide customization?
8. How will the software handle growing demands as my business scales?
9. How secure is this platform?
10. Does the product help manage inventory?
11. Is the system capable of providing updates in real-time?
12. In what ways does the software simplify catering to customers?
13. Is there any downtime?
14. How often can I run backups?
15. What are your software updates schedules? When was the last time you launched a new release?
16. How much traffic can it handle at a time?
17. How to track activities and performance?
18. Can I generate reports?
19. How long will it take for the implementation process to complete?
20. What is the learning curve to get started?
21. What payment gateways are incorporated into the system?
22. How does the product integrate with my current organizational software?
23. What are your support policies? Will I get 24/7 support?
24. Are there extra fees for ongoing support?
25. Do you offer a fully-featured free trial?
26. Will future upgrades come at extra cost?
» How much does an eCommerce Software Cost?
Similar to every software, the pricing structure of the best shopping cart software are distinguished from one another depending upon the facilities available from the software. Most software starts with a pricing plan of $8/month, while others may reach a tremendous high of $359/month. Similarly, with the advancement of the software, many software also allows the users to enjoy the ‘pay-as-you-go’ option which can be appreciated by paying the subscription fee. The unique feature of this option is that one can purchase and download extra business tools without any headache. However, many experts have stated that choosing the free basic version of the software in the initial stage can help in finding out the quality of service provided by the software. Afterward, one can go with the premium plan if interested.
» eCommerce Statistics
- In 2021, sales of the retail e-commerce segment reached approximately USD 4.9 trillion across the globe. This figure is expected to increase by 50% in the course of the next 4 years, arriving at the figure of $7.4 trillion by 2025. [Statista]
- 4% of internet users purchase something or the other online every week. The current categories with greater spending are fashion ($904.5 billion) and consumer electronics ($988.4 billion). [DataReportal]
- 61% of online consumers in the US have made a buying decision depending on the recommendations from a blog. [Content Marketing Institute]
- By 2040, it is anticipated that 95% of all purchases will be done through eCommerce. [Nasdaq]
- 5% of internet users across the globe have made online product purchases. [OptinMonster]
- Out of all the online purchases, 40% are made through smartphones during the holiday season. [OuterBox]
- Sites with a slow-loading rate experience an increased abandonment rate of 75%. [Baymard Institute]
- 67% of the global online retail traffic was generated through mobile devices. [Statista]
- Acquiring a new customer through paid advertisements is 7 times more expensive than retaining an existing customer. [Invesp]
- 33.6% of shoppers check price comparisons on their mobile devices when they are at a physical store. [PYMNTS]
» Conclusion
An eCommerce software facilitates you to quickly start your online business without having an understanding of behind-the-scenes technical stuff. Your store always remains open, and you can sell to anyone, anywhere. Not just that, you save time, money and resources as compared to running a brick-and-mortar store. With that being said, all you have to do is to choose an ideal online store software that can provide a quick return on your investment for sure.